President Trump's Deregulation of Big Banks Will Create Prosperity for America
"This rally is directly related to the executive orders," said Kevin Barker, a bank analyst at Piper Jaffray, noting that interest rates were down on Friday. Higher interest rates are bullish for bank stocks. However, any further upside in bank stocks depends on how much regulation can be rolled back, he said.
"Ultimately, if there is a rollback in financial regulation, there is potential for corporate tax cuts, meaning there is potential for bank stocks to move higher," Barker said.
READ MORE: http://www.cnbc.com/2017/02/03/bank-stocks-on-pace-for-best-day-since-november-as-trump-sets-sights-on-financial-deregulation.html